- Spot gold rose 2.3% to $4,488.54 per ounce, rebounding from its lowest level since Aug. 7.
- Traders priced a 54% chance of a September rate hike, down from earlier expectations as Waller’s comments eased the outlook for tighter policy.
- The dollar fell and Treasury yields eased from multi-year highs, adding support to gold.
Quotes
“he would support leaving interest rates unchanged if data continues to show inflation pressures moderating.”